2020 was an interesting year for the stock market in many ways. Some analysts described it as “Economics on steroids”. This year, we’ve seen some other quite interesting things taking place. Many people, including myself, thought that the inauguration of a new President in the USA was going to affect the financial markets, it has, and it will continue to do so as the USA (finally) starts to shift from ancient fossil tech to green tech.
But recently, the phenomenon known as “wallstreetbets” (r/wallstreetbets) has been the focus of many financial markets, analysts, institutions and media. If you’re unfamiliar with wallstreetbets, go to your favorite search engine and look it up. You can’t miss it, even during COVID19.
After reading what quite a few people in the financial sector are saying, it seems to me we have a very interesting situation on our hands. The major issue financial institutions, and federal authorities, seem to have with wallstreetbets, is that they have managed to manipulate the share prices of stock!?
Yes, you heard it right.
They are complaining about the fact that a group of people have managed to do what larger financial institutions and private investors with a lot of weight have managed to do for years. So, now that the shoe is on the other foot, it’s all of a sudden bad for the economy and financial markets around the world.
Perhaps, this is exactly what the world and the financial markets around it need to see. Perhaps this is exactly what has to happen before the “powers that be” get it into their heads that the rules and laws of the markets are broken. Yes, this is possibly dangerous, and yes, this can create some chaos on the markets around the world.
That is precisely the point.